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The Future of Money
Asset managers aren’t done with blockchain yet Premium content
...Share your ideas with us at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
July 25, 2022
FT Asset Management
Arm’s IPO: soul searching and the City Premium content
...This exhibition at the V&A invites us into the opulent world of master goldsmith Carl Fabergé and his London clientele....
February 14, 2022
FT Live
Financial Adviser Service Awards 2024
Who gives you 5 star service?
Thursday, 21 NovemberNatural History Museum, Cromwell Road, London, UK
ReviewUS & Canadian companies
Ocwen wins ResCap auction with $3bn bid
...Ally itself is majority-owned by the US Treasury and used to be known as GMAC, the financing arm of General Motors....
October 24, 2012
US & Canadian companies
Berkshire to buy $1.5bn ResCap portfolio
...The successful auction follows the sale of ResCap’s mortgage servicing business to Ocwen Financial for $3bn on Wednesday after it won a bidding war with Nationstar Mortgage....
October 25, 2012
LexUS & Canadian companies
Ally Financial – risks and rewards
...Full-speed progress on asset sales is one thing, but plans involving Ally’s bankrupt mortgage unit, Residential Capital, are on trickier ground....
October 28, 2012
US & Canadian companies
RBC to buy Ally’s Canadian arm for $4.1bn
...The former financing arm of General Motors, which used to be called GMAC, Ally had to pull a previous IPO because of fears about its liabilities for failed mortgages....
October 23, 2012
FT Live
Global Private Banking Awards 2024
Celebrating excellence in wealth management
Thursday, 7 NovemberThe Landmark London, London, UK
US & Canadian companies
ResCap rejects Berkshire asset bids
...Berkshire also sought to displace Nationstar, a mortgage company backed by Fortress Investment Group, as the stalking horse bidder for the mortgage business....
June 15, 2012
US & Canadian companies
Berkshire makes offers for ResCap assets
...The Berkshire bids are the latest twist in a battle between Ally, which was the financing arm of GM and went by the name GMAC before the $17.1bn government bailout, and Mr Buffett’s company....
June 11, 2012
US & Canadian companies
Berkshire sold bonds after probe call
...Ally Financial used to be known as GMAC, the financing arm of General Motors....
June 8, 2012
US & Canadian companies
Ally puts mortgage unit into bankruptcy
...Ally, 74 per cent owned by the US Treasury, used to be known as GMAC, the financing arm of General Motors....
May 14, 2012
FT AlphavilleEquities
So much for a grand settlement [updated]
...The Supreme Judicial Court (SJC), in Commonwealth v Ibanez, recently upheld Massachusetts law and stated that “only the present holder of a mortgage is authorized to foreclose on the mortgaged property.”...
December 1, 2011
US & Canadian companies
Buy-out bidders eye auction for GMAC arm
...BlackRock, Fortress Investment and Centerbridge Partners have expressed an interest in buying Residential Capital, the mortgage arm of finance company GMAC, from the US government, according to people familiar...
September 13, 2010
FT AlphavilleGwen Robinson
GMAC auction draws buy-out interest
...US hedge fund and buy-out groups BlackRock, Fortress Investment and Centerbridge Partners have expressed interest in buying Residential Capital, the mortgage arm of finance company GMAC, from the US government...
September 13, 2010
US & Canadian companies
Ally nearing sale of resort business to Centerbridge
...News of the carve-out from GMAC comes as the group continues to seek a buyer for ResCap, its mortgage lending arm, at a sufficient price....
September 23, 2010
FT AlphavilleTracy Alloway
From foreclosure to writedowns
...Four US financials — Bank of America, JP Morgan Chase, GMac/Ally, PNC — have halted foreclosures in all or some US states while they sort out technical deficiencies in their paperwork process....
October 15, 2010
FT Live
Financial Advice Forum
Optimising client centric advice in uncertain times
Tuesday, 24 September8-14 Cooper's Row, London EC3N 2BQ, UK
US & Canadian companies
Recovery in car and home loans lifts Ally
...Ally Financial, the financing company formerly known as GMAC that was rescued by the US government, reported its second consecutive quarterly profit on Tuesday, driven by a recovery in car and home loans...
August 4, 2010
US & Canadian companies
GMAC sells European arm to Fortress
...GMAC is left with about $18bn of US mortgage assets that it is looking to unload....
April 12, 2010
US & Canadian companies
Fortress earnings soar 24% to $73m
...The company has also been on a buying spree in Europe, where it bought GMAC’s residential mortgages arm, and in Japan. It also intends to buy more hedge funds....
August 5, 2010
US & Canadian companies
GMAC reports first profit since crisis
...GMAC ran into trouble with an ill-advised expansion into high-risk mortgage loans during the housing boom, and was forced to accept $17bn of taxpayer bail-out funds through the troubled asset relief programme...
May 3, 2010
FT AlphavillePaul Murphy
GMAC sells European arm to Fortress
...GMAC, the consumer lender majority owned by the US government, on Monday agreed to sell its $12bn European mortgage business to Fortress Investment Group....
April 12, 2010
US & Canadian companies
GMAC finance chief to depart
...Although car sales have improved in recent weeks, GMAC’s problems in the mortgage division are far from over....
March 10, 2010
US downturn
GMAC’s pay policy called into question
...Michael Carpenter, GMAC chief executive, testified that the mortgage lender was a “millstone” round the company’s neck....
March 12, 2010
US & Canadian companies
GMAC unit sold to Wells Fargo
...GMAC has been selling divisions as it focuses on its core automotive lending business, after losses in its residential mortgage division, called ResCap, forced the company to seek $17bn from taxpayers last...
March 25, 2010
US & Canadian companies
US Treasury takes majority stake in GMAC
...These actions will also allow GMAC to pursue strategic alternatives for ResCap and the mortgage business....
December 30, 2009
US & Canadian companies
GMAC chief ousted as bail-out talks go on
...GMAC has had some success raising deposits through its banking subsidiary, Ally Bank, and could also spin off its mortgage lending arm, Residential Capital....
November 17, 2009

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